Fourth Quarter Results
(All comparisons refer to the fourth quarter of 2022, except as noted)
- Net income of $8.4 million, or $0.61 per diluted common share.
- Return on average equity of 16.06%.
- Increase in net interest margin to 3.30% from 3.15%.
- Increase in facility expense transaction volumes of 9.7%
- Maintained exceptional credit quality, with no non-performing loans or charge-offs.
ST. LOUIS - (BUSINESS WIRE) - Jan. 25, 2024 - Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported fourth quarter 2023 earnings of $0.61 per diluted share, as compared to $0.67 in the fourth quarter of 2022 and $0.54 in the third quarter of 2023. Net income for the period was $8.4 million, a decrease of 9.4% from $9.3 million in the same period in 2022 and an increase of $1.0 million, or 13.8%, as compared to the third quarter of 2023. For the year ended December 31, 2023, the Company reported net income and earnings per diluted share of $30.1 million and $2.18, respectively, as compared to $34.9 million and $2.53, respectively, for the year ended December 31, 2022.
